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8. The two-month interest rates in England and the United States are 4.5% and 6.75% per annum, respectively, with continuous compounding. The spot price of

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8. The two-month interest rates in England and the United States are 4.5% and 6.75% per annum, respectively, with continuous compounding. The spot price of the UK Pound Sterling is $1.5335. The futures price for a contract deliverable in three months is $1.5598. What arbitrage opportunities does this create

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